The Company, a New York Corporation, has been in business since 1960. From the onset, the Company has devoted its resources to fund research and development of proprietary biologic materials with a focus on wound healing, clinical skin care, osteoarthritis and cancer applications. Significant studies substantiated the ability of Catrix(R), Lescarden's proprietary cartilage powder, to function as a biological response modifier, by stimulating the body's immune system. Further studies indicated that, Catrix could also be effective against diseases such as arthritis, scleroderma, psoriasis and even cancer.

Due to the amount of capital required to conduct ongoing research...